5 Best Dogecoin Crypto Apps of June 2023

Dogecoin is a decentralized cryptocurrency that was created as a parody of Bitcoin, and has gained significant attention due to its meme-inspired branding and support from Tesla CEO Elon Musk. Therefore, ensure you do your due diligence before adding this meme coin to your portfolio. You’ll have to sign up for an exchange to buy dogecoin or any other cryptocurrency, How to buy dogecoin stock and as millions of FTX users learned the hard way, your choice of exchange matters. The biggest names in the industry — including Coinbase, Kraken, Binance.US and Gemini — are known for stability, security and user-friendliness. Choose one that supports your preferred payment method, is transparent about its security and fees and, of course, lists DOGE.

Right now, it’s too volatile to deem anything other than a speculative opportunity. FinanceBuzz is an informational website that provides tips, advice, and recommendations to help you make financial decisions. We strive to provide up-to-date information, but make no warranties regarding the accuracy of our information. FinanceBuzz is not a financial institution and does not provide credit cards or any other financial products. Bitcoin was created in 2009 and was the first cryptocurrency to exist. Today, it’s the most popular and most valuable digital currency available (as of April 1, 2022).

Where to buy DOGE coin: stock and crypto markets?

This is usually the only option available for credit or debit card purchases, but you may also be able to make an instant buy if you’ve pre-funded your account with a bank transfer. Some platforms only offer 1 way to buy Dogecoin, while others provide several choices. The 2 most common ways to buy DOGE are on the spot market or with an “instant buy” feature. If this is your first time buying cryptocurrency you’ll need to look for a platform that accepts US dollars, like SoFi or CEX.IO. While this has helped make DOGE the #9 crypto by market cap, Dogecoin is still a highly volatile asset capable of major price swings in a single day.

• As a result, identify time and market conditions at which you can buy DOGE at a cheaper price and sell it at a higher rate later.
• Crypto veterans often opt instead for decentralized exchanges, which let them trade tokens on a P2P basis without an intermediary.
• However, you can use LocalBitcoins, which let you use PayPal to buy Bitcoin.
• According to Forbes, credit card issuers classify exchange purchases as cash advances, which come with a higher APR than standard purchases.

Smart contract blockchains like Ethereum, Solana, and Terra Luna have been the topic of conversation lately, as these cryptocurrencies have been outperforming the market. Billy Markus was a developer experimenting with cryptocurrencies for his own entertainment. Billy created Bells, a crypto based on the Animal Crossing currency. When Billy stumbled across a form post by Jackson Palmer about a “doge” coin, he reached out to make it happen.

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The deposit amount may also depend on the payment method you are using. Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors. Dogecoin (DOGE) is an open-source peer to peer digital currency based on the viral “doge” meme.

Some investors prefer to move their crypto into separate crypto wallets to protect their coins from hackers. While Redditors use DOGE for tipping and Elon Musk might build it into Twitter, dogecoin has not yet enjoyed widespread real-world adoption. Like so many other coins, it withered during the crypto winter and its status as a utilitarian token of the future remains a question mark. But if you are looking to take a leap and invest in this coin, the steps to purchasing are straightforward and simple. You can purchase dogecoin just as you would any other cryptocurrency. Cryptocurrency is a volatile asset class meaning the value of your holdings could go to zero.

What can Dogecoin be used for?

This is what enables Dogecoin users to freely tip each other and pay for goods and services online using DOGE. If you’re located in the United States, it’s a good idea to use a reputable trading platform based in the U.S, such as Gemini or Webull. Gemini recently launched Gemini Earn, allowing investors to passively earn interest on the digital assets they hold on its exchange. If you’re a long term investor, earning interest on your crypto is a great way to accumulate more coins over time.

Investment rules of thumb say risky assets like these should make up no more than 10% of your investment portfolio. The simplest way to buy Dogecoin (DOGE) is on a cryptocurrency exchange, where you can buy tokens with U.S. dollars or sometimes with other digital assets. But before you add Dogecoin to your portfolio, make sure you know what you’re getting into. While Dogecoin infamously started out as a joke, investors take it a lot more seriously now. That’s why experts recommend investing no more than 3% to 10% of your portfolio in cryptocurrencies. The first step is settling on the amount of dogecoin you want to purchase.

How Dogecoin differs from Bitcoin

However, this includes both Dogecoin and Bitcoin, as well as Litecoin and Ethereum. The meme coin itself is a peer-to-peer, open-source cryptocurrency that runs on blockchain technology. Peer-to-peer means Dogecoin can be sold and traded between individuals, without the need for a bank or other centralized middleman.

• Any discussion about the future of dogecoin must take place in the context of the coin’s unlimited supply.
• Since Shiba Inu is an ERC-20 token on Ethereum, you can store your tokens on any Ethereum compatible hardware wallet.
• Once you’ve bought some DOGE, think about what your short and long-term goals are.
• Hybrid exchanges are cryptocurrency trading platforms that combine features of both centralized and decentralized exchanges.

Over the past several decades, the S&P 500’s annualized average returns comes out to about 10%. We believe everyone should be able to make financial decisions with confidence. The limit on the number of Dogecoins was expressly removed by one of its creators to discourage people holding onto it long term. That’s in stark contrast to other major cryptocurrencies like Bitcoin (BTC), which have caps on how many coins are issued. Software wallets like ZenGo and MetaMask aren’t as secure as hardware wallets, but they get your holdings off the exchange and out of the sights of the hackers who target them. The most secure option — but also the most expensive and complex — is cold storage in a physical device called a hardware wallet like Ledger Nano X or Trezor Model T.

How to Buy Dogecoin (You Know, That Crypto Coin with the Dog)

He has been using Bitcoin since 2013 and began working in the industry in 2017. He takes pride in boiling down complex topics into language his parents can understand. He is a regular contributor to Nasdaq, The Street and is frequently called upon for market commentary in Australia and abroad.

None of this means you can’t make money trading Dogecoin, but rather that it’s unlikely to have enduring value over time. At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict
editorial integrity,
this post may contain references to products from our partners. In addition to the minimum deposit, some exchanges may also require a minimum balance to be maintained in the account to avoid account closure or inactivity fees. These fees can range from a few dollars to several hundred dollars per year, depending on the exchange and the amount of the minimum balance requirement.

Is Dogecoin on Coinbase?

His tweets have caused significant fluctuations in the price of Dogecoin, leading some to question whether his statements are manipulating the market. Musk has also referenced Dogecoin in interviews and on social media, leading many of his followers to become interested in the cryptocurrency. Create an account on a well-known cryptocurrency exchange, such as Coinbase, Kraken, or Binance, by providing information like email address, name, and phone number. Dogecoin made headlines in February 2023 when one of Elon Musk’s tweets caused a spike in Dogecoin’s price.